Workers slam premium hike, push for P2000 SSS pension hike

January 16, 2017

By KMU

National labor center, Kilusang Mayo Uno picketed the Social Security System’s main office in Quezon City this morning to call on President Rodrigo Duterte to stop the premium hike in May and that the P2000 pension hike must be immediately implemented with no compromise.

SSS officials continue to assert the 11 percent to 12.5 percent equivalent to P15 – 751 deduction on workers’ pay by May to offset the staggered increase of P2000 on pensions.

According to KMU Vice-Chairperson, Roger Soluta, “Members’ contribution has just been increased in 2014 and now this? SSS is either lying or plainly incompetent in saying that without a premium hike, P2000 pension increase will deplete the SSS fund.”

The labor leader added that the P13 billion uncollected contributions and P428 in reserve funds is more than enough to cover the additional P2000 pension, including the tens of millions worth of ridiculous allowances enjoyed by high officials.

Citing the Social Security System Act, the labor leader said that premium hike is illegal; and that SSS is already in default of its obligation to increase the pension and other benefits for its members every four (4) years.

KMU raised that there were three steps to fund the pension hike: (1) implement efficiency in collection (2) remove luxurious bonuses and perks of SSS executives and (3) stop gambling SSS funds on risky and sell-out investments.

“The debate is over, they must implement the P2000 pension hike, stop the premium hike and do their job to manage the SSS funds efficiently for the benefit of all its members. We call on President Duterte to replace incompetent SSS officials with those who can implement the P2000 pension hike without any increase in member’s contributions,” stated Soluta.

KMU calls on SSS pensioners, workers and ordinary employees to strengthen the demand for the implementation of the P2000 pension hike without any offset to their pay. They also lauded the increase in the number of legislators who joined the outcry of ordinary workers and other employees against the said premium hike.